In January 2018, the Trustees of The Bournemouth and District Recreational Charity (BDRC), the current owner/operators of Chapel Gate, made the decision that the current business model was not sustainable. This was confirmed following an Independent Business Review in consultation with our bank.
Following this report and ongoing debates, the Trustees took advice from their Solicitors and Chartered Surveyors, a document to prompt Expressions of Interest from third parties was designed. This document would set out the continuation of Bournemouth Sports Club in the future.
This document was issued in July 2018, and the Trustees reviewed the expressions made throughout August 2018. With the benefit of professional advice, the Trustees entered into a period of exclusive negotiations with Bournemouth University (BU) in relation to their proposed acquisition of the Chapel Gate site, that would meet the Trustees requirements.
Since then, BDRC and BU have had extensive meetings between themselves, and other key stakeholders, before moving into more detailed negotiations that led to Legal Heads of Terms being signed by both parties in March 2019.
We are now anticipating a transfer of the site to BU ownership and operation in June 2019. This will ensure that Chapel Gate remains a sports site for a very significant period of time, as well as an uplift in both the general and sporting facilities on site.